assignment of revenue (export duty on iron ore) act 1962 (revised 1989) _act 395

8/14/2019 Assignment of Revenue (Export Duty on Iron Ore) Act 1962 (Revised 1989) _Act 395

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Assignment of Revenue (Export Dutyon Iron Ore)

1

LAWS OF MALAYSIA

REPRINT

Act 395

ASSIGNMENT OF REVENUE

(EXPORT DUTY ON IRON ORE)ACT 1962

Incorporating all amendments up to 1 January 2006

PUBLISHED BYTHE COMMISSIONER OF LAW REVISION, MALAYSIA

UNDER THE AUTHORITY OF THE REVISION OF LAWS ACT 1968IN COLLABORATION WITH

PERCETAKAN NASIONAL MALAYSIA BHD2006



2 Laws of Malaysia A CT 395

ASSIGNMENT OF REVENUE (EXPORT DUTYON IRON ORE) ACT 1962

First enacted ... ... ... … … … 1962 (Act No. 27 of 1962)

Date of publication in the Gazette ... 1989 (Act 395 w.e.f.16 November 1989)

P REVIOUS R EPRINT

First Reprint ... ... ... ... ... 2001




3

LAWS OF MALAYSIA

Act 395


ARRANGEMENT OF SECTIONS

Section

1. Short ti tle and application

1A. Interpretation

2. Assignment to States of whole or part of export duty on iron ore

3. Restriction of royalty provisions in leases, etc.




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LAWS OF MALAYSIA

Act 395


An Act to provide for the assignment to States of export duty oniron ore and to restrict the levying of royalties and like paymentsin respect of iron ore.

[26 July 1962 ]

BE IT ENACTED by the Seri Paduka Baginda Yang di-PertuanAgong with the advice and consent of the Dewan Negara andDewan Rakyat in Parliament assembled, and by the authority of the same, as follows:

Short title and application

1. (1) This Act may be cited as the Assignment of Revenue (ExportDuty on Iron Ore) Act 1962.

(2) This Act shall apply to the States of *Peninsular Malaysiaonly.

Interpretation

1A. In this Act, unless the context otherwise requires—

“export duty” means export duty under the Customs Act 1952[ Act 235 ];

“iron ore” means iron ore or iron concentrates not includingpyrites;

“the Minister” means the Minister of Finance;

“the relevant date” has the meaning assigned by subsection 2(1).




Assignment to States of whole or part of export duty on ironore

2. (1) In the case of iron ore produced in any State and exportedafter the end of the month of September, nineteen hundred andsixty-two (hereinafter referred to as “the relevant date”) there shallbe assigned to that State the export duty levied on the ore or somuch thereof as does not exceed 10 per cent ad valorem on thevalue of the ore (as ascertained for the purposes of export duty).

(2) In the case of iron ore produced in any State and exportedbefore the relevant date the Minister may assign to the State thewhole, or such proportion as he considers equitable, of the exportduty levied on the ore.

(3) The Minister may by order direct that subsection (1) shallhave effect with the substitution for 10 per cent of such otherpercentage as may be specified in the order; but any order underthis subsection shall be laid before the Dewan Rakyat and shallnot have effect until approved by resolution of that House.

Restriction of royalty provisions in leases, etc.

3. No provision for the levying of royalties on, or similar chargesin respect of, iron ore produced in any State (whether under a leaseor other instrument or under any State Enactment, and whether theinstrument was made or the Enactment passed before or after thecoming into operation of this section) shall have effect after therelevant date except—

(a) in the case of a provision made before the coming intooperation of this section, in so far as the Minister (whetherbefore or after the relevant date) directs that the provisionshall have effect;

(b) in the case of a provision made after the coming intooperation of this section, if the Minister has signified hisapproval in writing to the provision.




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LAWS OF MALAYSIA

Act 395


LIST OF AMENDMENTS

Amending law Short title In force from

– NIL –




LAWS OF MALAYSIA

Act 395


LIST OF SECTIONS AMENDED

Section Amending authority In force from

– NIL –

DICETAK OLEHPERCETAKAN NASIONAL MALAYSIA BERHAD,KUALA LUMPURBAGI PIHAK DAN DENGAN PERINTAH KERAJAAN MALAYSIA

assignment of revenue (export duty on iron ore) act 1962 (revised 1989) _act 395

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